NSE ASI Rebounds by 1.24% Amid Renewed Buy Pressure on Banking and Industrial stocks

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as NIBOR Declines for All Tenor Buckets amid Sustained Liquidity Ease….

The Local Bourse All Share Index (ASI) increased by 1.24% to close at 20,925.19 points amid renewed bullish activity even as the Exchange recorded 24 gainers as against 10 losers at the close of trade.

MTNN, WAPCO, ZENITHBANK and UBA were the toast of investors today as their share prices rose by 3.04%, 9.69%, 7.47% and 9% respectively.

Of the five sub-indices tracked, only two closed in green territory: the NSE Banking and NSE industrial rose by 3.22% and 3.44% respectively.

Hence, the year to date loss of the NSE ASI moderated to 22.04%.

Meanwhile, market activity was upbeat as 1.1 billion units of OMOMOBRNK(BLS) was exchanged today, thus increasing the volume of stocks traded by 328.79% to 1.44 billion units.

Elsewhere, NIBOR declined for most tenor buckets amid sustained liquidity ease; however NITTY rose for most maturities tracked.

In the OTC bonds market, the values of FGN bonds rose for most maturities tracked; however, FGN Eurobond rose for most maturities tracked amid bullish activities.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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